PARIS (Reuters) – French media giant Vivendi took a 728 million-euro ($805 million) writedown on its stake on Telecom Italia in 2021, it said on Wednesday, as it reported a doubling in core operating earnings over the same period.
Total impairment charges amounted to 827 million euros in 2021, including a writedown on wholly-owned mobile video game-maker Gameloft, Vivendi said in a statement
The company, controlled by billionaire Vincent Bollore, managed to more than double its earnings before interest, tax and amortisation (EBITA) last year to 690 million euros thanks to the strong growth at its pay-TV group Canal Plus, advertising unit Havas and publishing division Editis.
($1 = 0.9039 euros)
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